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GaltMachine

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  • Stocks waver in choppy session, Nasdaq falls again [View news story]
    "The week-long trend of selling shorter-end Treasurys in favor of longer maturities continued, as the yield on the benchmark 30-year bond sank as low as 2.668%, a nine-month low."

    I believe you are referring to the 10 yr yield here.
    Mar 27 04:43 PM | Likes Like |Link to Comment
  • Summary Of My Post CPI Comments [View article]
    TIT,

    That's a very interesting response. How do you get a hedonic measure for a colonoscopy?

    :)

    All I know is that I spend a lot more than I used to for what seems like the same thing which to me feels like inflation regardless of the technical definition of it.

    Oh well!
    Mar 19 04:12 PM | Likes Like |Link to Comment
  • Summary Of My Post CPI Comments [View article]
    TIT

    How is the treatment of health insurance premiums handled when it comes to inflation?

    My premiums have doubled since 2008 and I pay them out of pocket. That's about 12%/yr using the rule of 72.

    As a proportion of my household spending it represents just over 10% of our spending currently.

    Thank you.
    Mar 19 10:49 AM | Likes Like |Link to Comment
  • Weighing The Week Ahead: Yellen Takes The Stage [View article]
    Thanks Jeff. I appreciate the comment - muddle through is the order of the day :)
    Mar 17 11:25 AM | 1 Like Like |Link to Comment
  • U.S. to relinquish control of Web-domain manager [View news story]
    Idk,

    Of course you won't, you never admit to an error or a mistaken viewpoint.

    What you have pointed out is that NPR and Media Matters reporting on Fox show that they have a similar viewpoint on this issue. This may surprise you but Media Matters is not an unbiased source of information either. The references in your link refer to opinions expressed by guests on the shows they reference something that occurs on all networks.

    I am truly trying to help.

    Do you consider NPR an untrustworthy source?

    So does that mean that NPR is bashing the President and providing Faux news?

    I actually totally agree that there is bias everywhere. There is no completely objective source of information anywhere. They are all informed by an opinion of some type when it comes to any politically charged issue - that is why we like some sources and dislike others based upon our most closely held beliefs. What irks is when a source puts the mantle of objectivity over itself when that in fact is not true - to me that's a lie.

    Nice to see you posting again.

    :)
    Mar 17 10:22 AM | 1 Like Like |Link to Comment
  • U.S. to relinquish control of Web-domain manager [View news story]
    idk,

    The article you reference above was written by NPR as in National Public Radio not Fox (Fox is providing the link to the NPR article), just check the byline and click the link and you will see:

    U.S. To Relinquish Remaining Control Of The Internet

    by Eyder Peralta
    March 14, 2014 6:37 PM

    http://n.pr/1cQtTfL

    I assume based upon this being inaccurate you will retract this statement:

    "And you now have as much credibility (or lack thereof) as the MSNBC liberals you disdain.

    Forget the readers' comments - did you see the article title? It says Obama gave up control of the internet. Basically, exactly what AZ Desert Trader said (and you asked him to show proof, and I went ahead and did the honors)."
    Mar 17 10:14 AM | 1 Like Like |Link to Comment
  • Weighing The Week Ahead: Yellen Takes The Stage [View article]
    Jeff,

    Thanks for the reply. I wasn't thinking about the share buybacks which obviously leads to higher earnings per share figures but I didn't think it was that material. Do you have any data you can share on this subject?

    So doesn't that suggest that the revenue growth is an even weaker figure?

    It just seems so puzzling that revenue growth in the aggregate wouldn't at least track with GDP growth. Seems like the total revenue growth of the S&P500 would be a pretty decent proxy for growth.

    Thank you!
    Mar 17 10:09 AM | Likes Like |Link to Comment
  • Weighing The Week Ahead: Yellen Takes The Stage [View article]
    Buy,

    That poll accords with reality pretty closely and most of the increase has gone to a very small percentage of the population.

    This is actually more a reflection of the net worth of Americans in general. About 50% of people actually own some form of equities and the top 1% own a lot of it.

    http://bit.ly/1cQnwZN
    Thursday, Sep 19, 2013 08:42 AM EST
    Stock ownership: Who benefits?
    The market is at an all time high, but stock ownership is wildly unequal
    Stephan Richter, The Globalist
    "According to economist Edward N. Wolff at New York University, the wealthiest 1% of all Americans owned 35% of all the stock owned by U.S. households in 2010, a percentage that, due to recent market developments, is likely to have increased to as much as 38% today.

    As of 2010, the richest 5% of U.S. households owned about two-thirds of all outstanding stock, a number that is likely as high as 70% today."
    Mar 17 09:45 AM | 1 Like Like |Link to Comment
  • Weighing The Week Ahead: Yellen Takes The Stage [View article]
    The CastLight IPO on Friday was an insanity:

    http://bit.ly/1ocLksm
    "At this price, the company had a $1.4 billion valuation. But, what’s more staggering, is that at $13 million in 2013 revenue – it lost $62 million on the year – the company is being priced at a 107-times revenue (not earnings). To reiterate, not since 2000 when companies like WebVan and Pets.com were the topic of investor interest have valuations like this been seen in the sector.

    As of the close of trading, Castlight was up 149 percent at $39.80 per share, suggesting that the markets agree with Dion rather than Pressman. The stock continues to rise in after hours trading."

    As of that close, that's more than 230 times revenue!
    Mar 16 12:42 PM | Likes Like |Link to Comment
  • U.S. to relinquish control of Web-domain manager [View news story]
    First paragraph of that article:

    "Now that the web has established itself as essential across the globe, the need for international oversight is stronger than ever."

    It is? Really?
    Mar 16 12:30 PM | 1 Like Like |Link to Comment
  • Weighing The Week Ahead: Yellen Takes The Stage [View article]
    Jeff,

    Curious as to your opinion on how companies are able to grow earnings so nicely when revenues barely move:

    http://bit.ly/1cN0Zgn
    "The earnings season is almost over, with results from 496 S&P 500 members already out. Total earnings for these companies are up +9.2% from the same period last year, with 64.3% beating earnings expectations with a median surprise of +2.4%. Total revenues for these companies are barely in the positive, up only +0.7%, with 56.0% beating revenue expectations with a median surprise of 0.6%."

    When you factor in the rate of inflation on the top line it looks like it is actually negative growth on a real basis. Is that a sign of deflation?

    Thank you.
    Mar 16 11:54 AM | Likes Like |Link to Comment
  • Frannie investors find a friend in Sen. Toomey [View news story]
    Intriguing statement. When is the right time to enter this in your opinion?

    "Make Whole" relative to what?

    I don't follow either of these but the plunge in both really got my value antennae up :)
    Mar 11 04:49 PM | 1 Like Like |Link to Comment
  • Chinese exports unexpectedly plunge, inflation eases [View news story]
    Holy crap that's a $50 billion dollar swing!

    "China swung to a trade deficit of $22.98B last month from a surplus of $31.86B in January and vs forecasts of $14.50B."
    Mar 9 03:10 PM | 1 Like Like |Link to Comment
  • The Housing Market May Be Starting To Crash [View article]
    Dave,

    I just tend to read everybody's stuff and make up my own mind based upon the data rather than the interpretation of the data based upon a pre-determined opinion of my own or the author writing the piece.

    I had the same thought when I read Bill's explanation on the purchase activity: he presents a supposition that supports what he believes rather than what actually is happening and then provides no way to check the veracity of his premise. How does he know that small lenders are under-represented?

    It is much more challenging to see both sides of the argument but I think it is worthwhile to understand both sides of any issue equally well - it definitely helps in the argument refutement department :)
    Feb 26 02:31 PM | 2 Likes Like |Link to Comment
  • The Housing Market May Be Starting To Crash [View article]
    What I also found fascinating about this morning's report is the actual, NSA level of sales which was 34k versus 32k for January last year. In an economy as large as ours that just seems like an incredibly tiny number.

    Amazingly 2k more homes at this level is almost a 10% increase! So the number sounds impressive even though it probably falls in the realm of measurement error. So the lesson is another example of fun with statistics and how they can be used to create a story that just isn't there yet.

    From Calculated Risk:

    http://bit.ly/1frV80x
    "In January 2014 (red column), 34 thousand new homes were sold (NSA). Last year 32 thousand homes were also sold in January. The high for January was 92 thousand in 2005, and the low for January was 213 thousand in 2011."
    Feb 26 01:52 PM | 1 Like Like |Link to Comment
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